The advantages of capitalism (was: [FoRK] Wage gap)

Russell Turpin deafbox
Mon Jun 13 07:44:33 PDT 2005


Stephen D. Williams:
>I certainly want more of a meritocracy then a socialist system; i.e. those 
>who have extra skills and those who actually produce should get paid much 
>more than those who don't.

A meritocratic system would have much the same
problems of socialism, to wit, the burden of making
sure that reward corresponds to merit, and the
gumming effect of interfering with the capitalist
ecology. Despite its chaos, and despite the fact
that it sometimes rewards the lucky and punishes
the productive, capitalism has two large benefits.
First and foremost, it's better than any other
system known at providing consumer benefit.
Second and related, capitalism at its essence is
a genetic algorithm that evolves successful
business processes.

At this point in time, I think it would be a
catastrophe for any nation to switch to an
economic system that doesn't have capitalism
as its base. I think the attempt to create a
system that tries to reward merit would be
just as disastrous as state socialism.

>(France to some extent?)

Huh? I haven't heard that capitalism is that
much less chaotic in France. Yeah, they protect
their agriculture. They find merit in vintners
and farmers. But that's pretty small potatos
overall, right?




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